The Best Stop for Mortgage Loans

Buying a home is exciting, but can also be stressful with so many decisions to make regarding which types of loans to have and which lender to obtain it from. Should you deal directly with a lender or have a broker? What's the point compensation for having a broker? How much of a loan payment can you afford? How much should the loan amount and loan term be? Is the interest rate fixed or adjustable? The questions keep rolling in, but you can ease your mind now that you are here. Mortgage Finders Network will help you with your mortgage loan process.There are so many different types of loans out there to accomodate the many different situations home buyers and home owners need. From first time home buyers to current homeowners, we provide all sorts of loan financing such as mortgages, refinancing, and home equity loans. Be sure to research, shop, and compare all loan types to find which one best suits you.
Here is how an extra mortgage can actually save you a ton of money:

Lets say you current mortgage was for $200,000 for 30 years at a 6% APR. Your mortgage monthly payment would be $1199.10. Let’s say after five years you are doing pretty will with your income and decide you can afford to pay more, so you decide to start making two mortgage payments each month. So you make two $650 payments every two weeks. This will end up costing you $100 more dollars a month to $1,299. Since you have accelerated your payments you can actually save on your interest and shorten the length of your mortgage. In this case, by adding $100 a month, you shave almost four years and $31,582 off your mortgage.

Just like refinancing a mortgage will lower your monthly payment by extending the length of your loan, making second mortgage payments do the opposite. If you can afford to pay another $100 a month you can really save a lot of money in the long run. It is worth your money, if you can spare it, to shorten your mortgage and pay less interest. Don’t you want $30,000 plus dollars saved in the future? It doesn’t seem like to much to ask to come up with another $100 each month. If you can afford it, it becomes a great idea.